FxWirePro: EUR/ AUD neutral in the near term, scope further downside

•  EUR/ AUD struggled for direction  on Thursday as market focus  turned to US-Iran peal deal and to upcoming U.S. economic data.

• Tensions remained elevated in the Gulf after reports suggested a proposed Iran-Oman deal to end the U.S.-Iran conflict could give Tehran oversight of inbound shipping through the Strait of Hormuz.

• The U.S. has not issued an immediate response to the proposal. President Donald Trump said a deal to reopen the Strait of Hormuz was close, but U.S. officials stressed they would not accept Iranian control over the key energy shipping route.

• U.S. nonfarm payrolls are expected to increase by 80,000 in July, following a 57,000 rise in June, while the unemployment rate is forecast to remain unchanged at 4.2%, according to a Reuters poll of economists.

• Immediate resistance is located at 1.6410(Daily high), any close above will push the pair towards 1.6468(50%fib).

• Immediate support is seen at 1.6334(38.2% fib) and break below could take the pair towards 1.6254(Lower BB).

Recommendation: Good to sell  round 1.6400, with stop loss of 1.6450 and target price of 1.6360